Be on the lookout for significant price movements on the last day of the month

Be on the lookout for significant price movements on the last day of the month

30.09.2021

Yesterday, two of the three major U.S. stock indices rose, resulting in a market environment characterized by higher stock prices, lower interest rates, and higher crude oil prices. WTI crude oil has risen again to $75.10. Gold has rebounded to $1,733. Market anxiety appeared to ease temporarily due to a brief decline in U.S. long-term bond yields.

In the foreign exchange market, the New Zealand dollar has become the weakest currency, while the AUD/NZD pair has been rising for four consecutive days. Yesterday alone, it climbed from 1.039 to 1.046. On the daily chart, it has firmly broken above the 20-day moving average, and we should keep a close eye on the possibility of it rising toward the 20-day moving average on the weekly chart, which is around 1.052.

Today’s schedule includes the UK’s second-quarter GDP (final reading) at 3:00 PM Asia time, France’s Consumer Price Index (flash estimate) at 3:45 PM, the Swiss KOF Leading Index and Turkey’s trade balance at 4:00 PM Europe time, remarks by Bank of Japan Governor Kuroda at 4:10 PM, and Germany’sunemployment rate, at 21:00 German CPI, at 21:30 US initial jobless claims, at 22:45 US Chicago PMI, at 23:00 remarks by US Fed President Williams (NY Fed), at 23:30 US weekly natural gas inventories, at 24:00 remarks by US Fed President Bostic (Remarks by Bostic, President of the Atlanta Fed; 12:30 AM: Remarks by Harker, President of the Philadelphia Fed; 1:30 AM: Remarks by Evans, President of the Chicago Fed; 2:05 AM: Remarks by Bullard, President of the St. Louis Fed; 3:30 AM: Remarks by Daly, President of the San Francisco Fed.We intend to carefully monitor how currency strength shifts amid price movements driven by the end of the month and the final day of the quarter.